All Posts

It is now 2025 and I am getting the same error on the 1099-B. I entered the 1099-K which then triggered the 1099-B worksheet. When the 1099-B opened it had the "Transaction were not reported to the IRS" box preselected without the ability to uncheck. This is causing an error in the return and I am not able to file. Need help in fixing as it doesnt look like any of the suggestions from last year worked.

This is used as a home office only for a business. We were not able to find where you can enter this in the program. Under assets there is know option for a building repair. There is landscaping improvements, there are technology options like computers or copy machines, there is options for something else, but not for repairs or upgrades.    We saw repairs upgrades in expenses, that you are showing, but those do not seem to be depreciable.

When you search for investment sales, you are taken to your investment sale summary page.  You should be able to edit your transactions from the summary page in the interview by clicking on Review.     The Edit button and Trash Can are in the lower left hand corner of the screen.   Some customers report that they are not able to view entries on the far right side of the screen unless the slide at the bottom of the screen is moved to the left. If this doesn't work, you may need to delete and then re-enter  those 1099-B forms.   Add/Edit/Delete Form 1099-B: Open your return (if not already open). Enter "1099b" in the Search box. Click on "jump to 1099b" link.   Enter you information by importing it or by entering it manually.

edge is a web-browser that allows you to access your Turbotax online account to prepare the return.  You could switch web browsers if you're having an issue with edge. however, before doing so try clearing cache and cookies.   Turbotax does not have it's own web-browser. 

turner121   No, the taxpayer should report whatever the HDHP coverage is, whether or not they are filing MFS.   That is, suppose one spouse has the HDHP policy, but that it is a Family policy that covers the both spouses. Both spouses should report Family HDHP coverage.   Note that since TurboTax does not support the automatic allocation of the Family coverage amount for returns filing married separate (MFS), then your only option in TurboTax is to use the CD/download version of TurboTax, go into Forms mode, and make entries directly on to the 8889.

@ThomasM125So I can include ALL of the $1,333,09 which includes the following transaction categories?   Long-term capital gain Nonqualified dividend Qualified dividend Short-term capital gain

Thanks, I think I reported the withdrawal of the excess contribution (I received a 1099-R in 2023 which showed the excess contribution as the Gross Amount and the income earned during the period as the Taxable Amount and I included the 1099-R info in my 2023 TurboTax return, including the amounts in each of those boxes). In any case, I did delete Form 5329 from my 2024 return but the additional tax on the excess contribution was still reflected on Form 1040 (and it wouldn't let me manually override the Form 1040 amount to change it to zero) . However, I then went to the IRA worksheet and manually update the excess contribution to reflect zero and then the additional tax on Form 1040 went to zero. I think I am all good now and I assume when the 2024 info gets transferred to the 2025 return, the excess contribution will no longer be reflected based on its deletion from the 2024 worksheet, so hopefully all set for this year and going forward. Thanks for the help.

@julito1403 wrote: Hi Sharon, thanks for your answer. She is 17 and made $11000 in her own part time job on 2024 but as she was helping me in my Childcare center (Daycare at my house) i paid her around $2000 for the whole year.  Just to confirm, it is okay to send her a 1099 NEC for the amount of $2000, right? Thank You again. You've got a couple of things to think about.   A 1099 would only be appropriate if she is an independent contract.  If she is an employee, the law requires you to issue a W-2, and withhold mandatory social security and medicare tax and pay that to the IRS on the appropriate form (941 or 944), even though her income might not be enough to withhold income tax.  (There may be an exception to mandatory social security and medicare tax withholding when you employ your own minor child, but I need to double check that.)  Your business needs a federal tax ID number if it has employees.  (If you are a sole prop with no employees, you can use your SSN and a separate EIN is optional; when you hire employees, an EIN is mandatory.)   The difference between an employee and independent contractor is discussed here. https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee It boils down to who controls the time, manner and place of performance of the duties.  If you tell your daughter, "you must work 3-6pm Monday, Wednesday and Friday" then she is probably an employee.   As an employee, she will have additional rights under state law.  She may be subject to minimum wage laws, although sometimes states make exceptions when you employ your own minor children.     If you issue a 1099-NEC and she files a tax return as an independent contractor, she will pay 15% self-employment tax on her compensation, even though she might be exempt if she was treated as a minor family member employee.    The IRS has significant penalties if you classify someone as a contractor who should have been an employee (although I presume your daughter would not file a complaint against you).  I'm not going to tell you that you should report her as an employee or contractor, but you may want your own professional tax advice. 

An air conditioner does not qualify for the residential clean energy credit.  So yes, you can claim both, but ONLY if you installed items that would apply to both.  The Residential Energy Credit is  a non-refundable credit, that can be carried forward to future tax years until this credit goes away which is currently set to happen in 2034 This credit is worth up to 30% of the cost of the equipment, with no maximum limit.  The items that fall into this category are as follows: Geothermal Heat Pumps Small Wind Turbines Solar Energy Systems Fuel Cells Battery Storage Technology  

First I would manually prepare the 8990  to see if you get any additional deduction.  If not, e-file without it and then file an amended return with it by mail.  If yes, you have to decide among the following - all require filing an amended return by mail: 1) take the deduction and include the manual 8990  2) don't take the deduction and e-file without the 8990, then amend including the 8990. 3) take the deduction and e-file without the 8990. then amend to include the 8990. This could delay any refund you are due   maybe Turbotax will do something for 2025.